Mexico feels the effect of U.S. financial crisis and severity of floods

uploaded by Pat Garcia October 2, 2008 at 04:14 am
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Mexico feels the effect of U.S. financial crisis and severity of floods by Pat Garcia

Millions of families depend on the money their relatives send home, sometimes it is a son who send money to his parents, a husband to his family or a single mother who sends money to suuport her children, many and various situations.

All the flooding affecting hundreds of communities in Noth and South of Mexico is hitting Mexico's families severely.

The money that Mexicans living in the U.S. send home, a lifeline for both the economy here and millions of families, has suffered its steepest decline on record, dragged down in large part by the American financial crisis.

The bad news, announced Wednesday by the Bank of Mexico, follows government assurances that the U.S. crisis would not have a severe effect on Mexico.

The states of Chihuahua, San Luis Potosí, Sinaloa, Sonora y Veracruz have been declared emergency zones by the Government

MEXICO - La Secretaría de Gobernación publicó seis declaratorias de Emergencia y una de Desastre Natural por la ocurrencia de lluvias e inundaciones en diversos municipios de Chihuahua, San Luis Potosí, Sinaloa, Sonora y Veracruz